Not that I want to spend the money but is GBP 2.750,00 a reasonable price?

Another question: Most LOTR rebindings are in red leather probably because the originals were red. Now I have this perhaps -crazy- notion that I rebinding in white leather, emulating the white dustwrappers would look really good. Are there examples of such rebindings?

Personally, I don't like first editions that are rebound. I would never pay that kind of money for this set. If I were to spend that much money, I'd be looking for the original bindings and dust jackets.

But, of course, I don't have this kind of money lying around either way.